Annual Return/Report of Employee Benefit Plan

ICR 202012-1545-013

OMB: 1545-1610

Federal Form Document

ICR Details
1545-1610 202012-1545-013
Received in OIRA 202004-1545-006
TREAS/IRS
Annual Return/Report of Employee Benefit Plan
Revision of a currently approved collection   No
Regular 01/07/2021
  Requested Previously Approved
36 Months From Approved 03/31/2023
929,000 916,500
934,830 930,908
140,563,487 139,007,000

Form 5500 is an annual information return filed by employee benefit plans. The IRS uses this information to determine if the plan appears to be operating properly as required under the law or whether the plan should be audited.

US Code: 26 USC 6058 Name of Law: Information required in connection with certain plans of deferred compensation
   PL: Pub.L. 109 - 280 1 Name of Law: The Pension Protection Act of 2006 (PPA)
   PL: Pub.L. 111 - 192 201 Name of Law: Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010
  
None

Not associated with rulemaking

  85 FR 55936 09/10/2020
86 FR 704 01/06/2021
No

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 929,000 916,500 0 -500 13,000 0
Annual Time Burden (Hours) 934,830 930,908 0 -208 4,130 0
Annual Cost Burden (Dollars) 140,563,487 139,007,000 0 0 1,556,487 0
No
Yes
Miscellaneous Actions
The below table summarizes the burden changes. The Change Due to Agency Discretion is the result of the IRS decision to not release Form 5500SUP due to the phase out of paper filing in 2021. The Change Due to Agency Estimate is the result of the most currently filing figures received from DOL. The addition of the checkboxes to the form is not expected to change the burden estimates.

$14,400,000
No
    No
    No
No
No
No
No
Leslie Larson 202 317-8691

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
01/07/2021


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